Silver has made a remarkable recovery this year, overtaking Bitcoin to become the 8th largest asset by market value, after losing its position in March. CoinGecko reports that silver, the world’s second most valuable metal, has seen a 33.4% increase since Bitcoin hit a record high of $73,737 on March 14, while Bitcoin's value has fallen by 9.5% during this period.

The Ongoing Rivalry Between Silver and Bitcoin

Silver now boasts a market value of $1.83 trillion, which is $500 billion more than Bitcoin’s market value of $1.31 trillion. For Bitcoin to catch up with silver’s market value, it would need to surge by 40% to approximately $93,000. For the latest updates on finance and business, visit COINTURK FINANCE.

Currently, Bitcoin ranks as the ninth largest asset globally, behind gold, Microsoft, Apple, Nvidia, Google, Saudi Aramco, Amazon, and silver. Gold has also performed well, experiencing a 22.4% rise since February 13, bringing its market value to $16.4 trillion. Experts are divided on Bitcoin’s future price movements after its peak in March.

What Lies Ahead for Bitcoin?

Bitcoin analyst Dylan LeClair has previously observed that Bitcoin often doubles in value within months of reaching new highs, particularly during halving events. However, Bitcoin’s current market value is significantly higher than in 2020, 2016, and 2012, making such growth more challenging.

Galaxy Digital’s founder and CEO, Mike Novogratz, predicts that Bitcoin will remain in a consolidation phase between $55,000 and $75,000 over the next month, potentially rising toward the end of the second quarter. Analysts at the cryptocurrency trading platform Bitfinex believe Bitcoin could reach $150,000 within the next 12 months.

Many industry experts attribute these optimistic predictions to the anticipated approval of spot Bitcoin exchange-traded funds and the post-halving effect. Bitcoin’s market sentiment score currently stands at 70 out of 100, indicating a state of greed according to the Crypto Fear and Greed Index.

In conclusion, while silver has made a significant comeback against Bitcoin this year, the future of Bitcoin remains uncertain, with experts divided on its potential trajectory. As market conditions evolve, both assets will continue to be closely watched by investors and analysts alike.